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Everything You Need To Know About The LIRA

Everything You Need To Know About The LIRA – Whether you’re leaving an employer-sponsored defined-benefit or defined-contribution pension plan, a LIRA will be the tax-sheltered structure in which your funds will be held.

You’ve been in the company pension plan for years or decades and suddenly your situation changes. Whether because you’ve accepted a buyout offer, been laid off or simply decided to leave your position for greener pastures, suddenly you have a pot of money and some big decisions to make. Welcome to your LIRA (locked-in retirement account),…